If an assessee utilises his borrowed funds for earning tax free interest on government bonds, then interest paid on such borrowed funds will not be allowed for deduction.
In income tax act, where it is so provided..?
What is the section..?
3 Replies
CA SUKSHAM ARORA
(CA)
(569 Points)
Replied 14 February 2014
I GUESS SEC.14A. This Section provides for disallowance of expenditure incurred in relation to income which is not included in the total income of the assessee (i.e. exempt income).
Recent Topics
- Iska djd djrbdsjebshe sir ur rei ejr reinr the jr
- GST registration for medical shop in Karnataka
- Hsshs me know if you are free number of the
- Chu Kang and the situation of the situation and I
- How to reverse wrong transaction payment in phonep
- Paytm wrong transaction
- How to reverse wrong transaction payment in phonep
- Issue with refund for person who has filed for rel
- How to take ITC for October 2024 GST Payment in PM
- How to refund a wrong transaction Phone Pe?
Related Threads
CAclubindia
